Cowen to help low earners get on the "Property Slide"

[mairteenpak]

The Government are talking out of the two sides of its mouth saying two different things

1) That they will help low-income earners buy homes

2) That they will not tinker with the housing Market


Helping low earners to get on the property ladder is a farce, as the property ladder, has been replaced with a "Property Slide" This has all the hallmarks of state support for builders and banks.

http://www.tribune.ie/news/article/2008 ... rners-buy/

[Pauli]

The Government are talking out of the two side of its mouth saying two different things

1) That they will help low-income earners buy homes

2) That they will not tinker with the housing Market


Helping low earners to get on the property ladder is a farce, as the property ladder, has been replaced with a "Property Slide" This has all the hallmarks of state support for builders and banks.

http://www.tribune.ie/news/article/2008 ... rners-buy/

What were you expecting from Fianna Fail. It is the political wing of the CIF. Just as Unionist politicians took to using the phrase "Sinn Fein - IRA", we should, for the sake of clarity, refer to the entity as "Fianna Fail - CIF"

[mairteenpak]

The property ladder just became too long after the addition of several additional lengths. It could no longer support its own weight let alone the weight of those who were already on it.

The Government are happy to use the poor as cannon fodder to support a crumbling market

[hopi watcher]

The Government are talking out of the two sides of its mouth saying two different things

1) That they will help low-income earners buy homes

2) That they will not tinker with the housing Market


Helping low earners to get on the property ladder is a farce, as the property ladder, has been replaced with a "Property Slide" This has all the hallmarks of state support for builders and banks.

http://www.tribune.ie/news/article/2008 ... rners-buy/

No surprises here, FF and the PDs are owned lock, stock and barrell by the builders and banks. You do note that there is no proposal to spend taxpayers money to help all those unfortunate young people how bought houses at peak price and who are now locked into mortgages of 35 yrs. and facing negative equity for the foreseeable future. Where has all the money gone?

[akanji]

Listening to him on pat kenny l.o.l {land owner} show held in wexford recently, you could figure out that brian cowan is confidence on the control of the economy having being in government for over a decade before he took over the reign of power and apart from that took charge for over a dacade does show that, there is economic down problem all over many countries but atleast the government show a sign of focus in looking after the economy and get it back together with the co-operation of every citizen in the country.

[myksav]

Listening to him on pat kenny l.o.l {land owner} show held in wexford recently, you could figure out that brian cowan is confidence on the control of the economy having being in government for over a decade before he took over the reign of power and apart from that took charge for over a dacade does show that, there is economic down problem all over many countries but atleast the government show a sign of focus in looking after the economy and get it back together with the co-operation of every citizen in the country.

Could you break that down to sentences?

"on pat kenny l.o.l {land owner}" And what is wrong with being a landowner that you "laugh out loud"? I own land, so do many people.

[cyberianpan]

"There will be no gimmicks and no tinkering with the housing market," one senior source said. "If developers want to off-load stock, they will have to get their prices right."

The state would fund the difference between the mortgage obtained by the buyer and the price of the house. In return, the state would be granted a proportional equity stake in the property. The idea is this could be bought out over time or when the house is sold – interest free.

The bubble has not yet burst, residential property is way over-priced, banks/property developers are holding large tranches of properties on their books in hope of an upturn , in order that they don't have to declare themselves bankrupt.

Now Biffo's going to "part buy" the houses ... a "part buy" perhaps of 30% ? That ought to be a nice cushion. The economics of this will be simple: whatever the properties were going to fall by the Government will pick up the tab. So the Government will now be speculating in the property market, what ought to have been a 10 year bubble will be 40 years... astonishingly obvious corruption.

cYp

[wysiwyg]

"There will be no gimmicks and no tinkering with the housing market," one senior source said. "If developers want to off-load stock, they will have to get their prices right."

The state would fund the difference between the mortgage obtained by the buyer and the price of the house. In return, the state would be granted a proportional equity stake in the property. The idea is this could be bought out over time or when the house is sold – interest free.

The bubble has not yet burst, residential property is way over-priced, banks/property developers are holding large tranches of properties on their books in hope of an upturn , in order that they don't have to declare themselves bankrupt.

Now Biffo's going to "part buy" the houses ... a "part buy" perhaps of 30% ? That ought to be a nice cushion. The economics of this will be simple: whatever the properties were going to fall by the Government will pick up the tab. So the Government will now be speculating in the property market, what ought to have been a 10 year bubble will be 40 years... astonishingly obvious corruption.

cYp

Close to being spot on... but where it's going to help, no one knows. Local Authorities have been offering "shared ownership" schemes for years, as one means of helping tenants purchase their houses, and it has probably been the most under used scheme of all offered when people come to purchase. It is especially unworkable in poorer economic times because it contributes to labour immobility, as there is a "third party" element to take account of is a home owner needs to sell a house before moving to follow work....

It's an expanded version of the First Time Buyers Grant, and will serve nothing more than continuing to artifically keep house prices high... before the inevitable fall sometime in the future when the market continues to correct itself

[politicaldonations]

Is'nt giving finance to low earners to buy expensive property the definition of "sub prime"?

If the government does increase subsidies to low earners it will be interference in market, as even if prices continue to fall, they will not fall as much and as fast as they would if gov doesnt intefer. NO MARKET INTERFERENCE FF, Its expensive and futile and taxpayers and the economy as a whole deserve better use of limited resources. There is PLENTY of houses for everyone and low earners will get to buy homes as price continue to fall. Laissez Faire.

[factual]

Is'nt giving finance to low earners to buy expensive property the definition of "sub prime"?

If the government does increase subsidies to low earners it will be interference in market, as even if prices continue to fall, they will not fall as much and as fast as they would if gov doesnt intefer. NO MARKET INTERFERENCE FF, Its expensive and futile and taxpayers and the economy as a whole deserve better use of limited resources. There is PLENTY of houses for everyone and low earners will get to buy homes as price continue to fall. Laissez Faire.

A good point.